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Property and Equipment, Net of Accumulated Depreciation | 12 Months Ended
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May 31, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net of Accumulated Depreciation | Note J — Property and Equipment, Net of Accumulated Depreciation The components of property and equipment, at cost, consisted of the following:
|  | May 31, |
In millions |  | 2024 |  |  | 2023 |
Land and improvements |  | $ |  | 9.0 |  |  | $ |  | 9.0 |
Buildings and improvements |  |  |  | 131.4 |  |  |  |  | 130.5 |
Data processing equipment |  |  |  | 213.3 |  |  |  |  | 214.5 |
Software (1) |  |  |  | 1,010.1 |  |  |  |  | 927.3 |
Furniture, fixtures, and equipment |  |  |  | 71.9 |  |  |  |  | 77.2 |
Leasehold improvements |  |  |  | 47.6 |  |  |  |  | 67.3 |
Construction in progress (1) |  |  |  | 60.7 |  |  |  |  | 51.7 |
Total property and equipment, gross |  |  |  | 1,544.0 |  |  |  |  | 1,477.5 |
Less: Accumulated depreciation |  |  |  | 1,132.3 |  |  |  |  | 1,081.2 |
Property and equipment, net of accumulated depreciation |  | $ |  | 411.7 |  |  | $ |  | 396.3 |
(1) Software includes both purchased software and costs capitalized related to internally developed software placed in service. Capitalized costs related to internally developed software that has not yet been placed in service is included in construction in progress. Depreciation expense was $127.5 million, $128.4 million, and $133.7 million for fiscal 2024, 2023, and 2022, respectively. During the fourth quarter, the Company reprioritized certain technology investments and disposed of certain leasehold improvements, furniture, and fixtures associated with abandoned leased properties and recorded losses on disposal of $17.1 million and $4.1 million, respectively. The losses are included in selling, general and administrative expenses on the Consolidated Statements of Incom e and Comprehensive Income.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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